According to the city’s financial report out Wednesday, the Ralston Arena is losing millions.

Even Ralston Mayor Don Groesser admits it, the Ralston Arena is losing money, and whether it’s a lot or a little, it’s all bad.

Advertisement

“I think it is a huge learning curve that we have gone through in the last year and a half. You start a new business, it’s time to get your feet on the ground and understand how to operationally run the business,” Groesser said.

The Ralston annual financial report shows the arena lost $4,024,000 in one year.

"I was hoping to make a profit. A lot of the shows that we booked, the acts that we brought in lost money,” the mayor said.

Groesser said the $4 million does not paint an accurate financial picture. First, it includes the depreciation on the building and everything inside, and second, it includes the bond payments on the facility. Even with those set aside, the arena still shows a financial loss of $600,000.

The mayor said, looking back at the number now, he would still build the arena.

Across the street at King Kong, manager Mike Pandis said a profitable arena means more hungry cash-carrying people.

“We don't want them to fail. We are in favor of them to succeed,” Pandis said. “We would like it to succeed because when they have shows and activities, we get more business.”

Getting the Ralston Arena back in the black will take work, especially with another arena opening in the Omaha metro.

"University of Nebraska-Omaha is definitely going to put a struggle on us. We lose UNO's men's basketball,” Groesser said.

Groesser remains confident he can shake Ralston's money-loser into a moneymaker.